noun
1. A medium to large gathering of well dressed people (usually in Abercrombie, Hollister, and/or any of the like, however not including Aeropostale, because that store is for ugly, poor, idiotic people who think their clothes are 'trendy') at a set location ranging from one participant's vacant or parentless home, to a beach with a bonfire. This is usually accompanied by loud pop and/or hip-hop/rap music.

verb
1. To hold a gathering at which well dressed teens meet at a given location to eat (sparingly), drink (sometimes alcoholic beverages), dance (can be deemed by parents/administrators as 'inappropriate'), and socialize. Usually takes place in an upper-middle to upper class neighborhood.

A respectable car packed with popular, well-dressed 10th graders pulls into the driveway of a large suburban home.
(a group of extremely good looking people exit the car, to meet the sight of a large, clearly parent-free home)
Amber, a popular and well-dressed 10th grader - "Brock, hey! This where the party is? By the way, you look awesome!"
Brock, an equally well-dressed popular boy - "Yeah, this is where the party is! You look hot, too Amber!"
Brock, Amber, and a group of other young, popular teens - "ABERCROMBIE PARTY!!!"] - thinking to themselves...